Cumberland-View Towers Inc
- Assets
- $4.0m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 17
- Location
- Madison, TN
- Founding
- 09/1978
- Data as of
- 12/2021
- EIN
- 58-1335497
Organization Overview
Cumberland-View Towers Inc is located in Madison, TN. The organization was established in 1978. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Cumberland-View Towers Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cumberland-View Towers Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Cumberland-View Towers Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZED AS A NOT-FOR-PROFIT ORGANIZATION TO CONSTRUCT AND OPERATE AN APARTMENT COMPLEX OF 150 UNITS UNDER SECTION 8 AND 202 OF THE NATIONAL HOUSING ACT. SUCH PROJECTS ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CUMBERLAND VIEW TOWERS, INC. IS ORGANIZED AS A NOT-FOR-PROFIT TO CONSTRUCT AND OPERATE AN APARTMENT COMPLEX OF 150 UNITS UNDER SECTION 8 AND 202 OF THE NATIONAL HOUSING ACT. SUCH PROJECTS ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luis Reyes Admin/exec D | Officer | 40 | $78,142 |
Myron Johnson Chairman | OfficerTrustee | $0 | |
Jim Cheeks Vice Chairma | OfficerTrustee | $0 | |
Silke Hubbard Secretary | OfficerTrustee | $0 | |
Desiree Goff Director | Trustee | $0 | |
Bette Fields Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,473,483 |
| Investment income | $222 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,473,705 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $78,142 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $102,803 |
| Pension plan accruals and contributions | $3,349 |
| Other employee benefits | $30,811 |
| Payroll taxes | $21,547 |
| Fees for services: Management | $54,588 |
| Fees for services: Legal | $12,124 |
| Fees for services: Accounting | $17,716 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $159,884 |
| Advertising and promotion | $264 |
| Office expenses | $61,912 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $258,435 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $818 |
| Interest | $137,142 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $109,588 |
| Insurance | $68,584 |
| All other expenses | $0 |
| Total functional expenses | $1,173,817 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $459,984 |
| Savings and temporary cash investments | $908,134 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,432 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $45,721 |
| Net Land, buildings, and equipment | $2,239,636 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $262,790 |
| Other assets | $97,209 |
| Total assets | $4,030,906 |
| Accounts payable and accrued expenses | $78,631 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,201,367 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $56,107 |
| Total liabilities | $3,336,105 |
| Net assets without donor restrictions | $694,801 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,030,906 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cumberland-View Towers Inc has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
Memorial Foundation Inc Hendersonville, TN PURPOSE: TO FURTHER EXEMPT PURPOSES | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Center For The Developmentally Disabled Kansas City, MO | $14,632,501 | $18,017,450 |
Choanoke Area Development Assoc Rich Square, NC | $3,243,319 | $10,393,050 |
Preservation Housing Inc Mobile, AL | $45,095,355 | $8,020,455 |
Association For Retarded Citizens Housing Development Services Inc Greensboro, NC | $38,855,283 | $9,434,004 |
Society Of St Vincent Depaul Council Of Louisville Louisville, KY | $10,950,346 | $7,888,364 |
Twin Rivers Opportunities Inc New Bern, NC | $1,111,953 | $5,873,122 |
Socayr Inc Louisville, KY | $34,945,508 | $6,749,829 |
John Sparks Manor Inc Union City, GA | $0 | $5,675,234 |
Larry Moore Manor Inc Union City, GA | $0 | $4,277,912 |
Family Scholar House Inc Louisville, KY | $18,614,591 | $4,995,688 |
Lewinsville Retirement Residence McLean, VA | $23,915,511 | $4,142,115 |
Rhg-Afforable Housing Ii Inc Atlanta, GA | $13,550,062 | $7,175,901 |